Petrofund Energy Trust

Petrofund Energy Trust

September 13, 2005 20:30 ET

Petrofund Energy Trust Announces Cash Distributions for Fourth Quarter 2005

CALGARY, ALBERTA--(CCNMatthews - Sept. 13, 2005) - Petrofund Energy Trust (TSX:PTF.UN) (AMEX:PTF) announced today an October, 2005 cash distribution of C$0.17 per unit. Based on current commodity prices and market conditions, Petrofund expects to maintain the $0.17 distribution for both the November and December distribution months.

Petrofund distributes the majority of its cash flow to unitholders on a monthly basis, retaining a significant portion to fund drilling and development projects designed to improve the sustainability of future distributions. Petrofund paid out 73% of its cash flow in 2004, 61% in the first half of 2005, and 56% in the second quarter of 2005.

The applicable payable dates for each of the distribution periods are listed below:

Distribution Record Date Date(2) Payable Date
C$0.17 per October 17, 2005 October 13, 2005 October 31, 2005
C$0.17 per November 16, 2005 November 14, 2005 November 30, 2005
C$0.17 per December 14, 2005 December 12, 2005 December 30, 2005

(1) The dates apply to Petrofund units traded on both the
(2) Anticipated ex-distribution dates for November and December.
These dates are subject to change and/or confirmation by the
exchanges and will be confirmed in the November and December
distribution press releases.
(3) These distributions reflect Petrofund's current expectation with
regard to near term performance and are subject to change based
on actual market conditions.

Registered unitholders will receive their distributions directly from our transfer agent. Those with US addresses are paid in US currency using the exchange rate in effect on the record date. Based on an exchange rate of C$1.1813/US$1.00, the October distribution would be US$0.1439 per unit (before deduction of withholding taxes). Non-registered unitholders will receive their distributions through their brokers.

Petrofund's 12-month aggregate trailing distributions (October 2005 inclusive) are C$1.93 per unit, which represents a cash-on-cash yield of 8.65% per year based on the closing price of C$22.31 per unit on the Toronto Stock Exchange on September 13, 2005.

Petrofund Energy Trust is a Calgary based royalty trust that acquires and manages producing oil and gas properties in Western Canada. The Trust pays its Unitholders monthly cash distributions that are derived from the Trust's cash flow from these properties. Petrofund Energy Trust was founded in 1988 and was one of the first oil and gas royalty trusts in Canada.

This news release may contain forward-looking statements relating to future events or future performance. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "projects", "plans", "anticipates" and similar expressions. These statements represent management's expectations or beliefs concerning, among other things, future operating results and various components thereof affecting the economic performance of the Trust. Undue reliance should not be placed on these forward-looking statements which are based upon management's assumptions and are subject to known and unknown risks and uncertainties, including the business risks discussed above, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted.


Jeffery E. Errico
President and Chief Executive Officer

Contact Information

  • Petrofund Energy Trust
    Investor Relations
    (403) 218-4736 or Toll Free: 1-866-318-1767
    (403) 539-4300 (FAX)
    Petrofund Energy Trust
    Chris Dutcher
    Director, Business Development
    (403) 218-8625